DCB opens a new branch in Vasai, Mumbai
Expands its regional footprint

Mumbai, September 7, 2007: Development Credit Bank (DCB), one of the fastest growing private sector banks in India, inaugurated its new branch at Vasai, District Thane. Mr. Gautam Vir, Managing Director & CEO and Praveen Kutty, Head - CBG inaugurated the branch, which offers its customers an array of customer friendly facilities in a contemporary environment.

The Vasai branch is strategically located between the western and the eastern part of Vasai, on Ambadi Road, which connects the main residential locality and the industrial hub situated on the East of Vasai.

Commenting on the occasion, Mr. Gautam Vir, MD & CEO, DCB, said, “DCB has always enjoyed a significant presence in the Western corridor of India. With the opening of this branch, the Bank will address the needs of individuals, business banking customers as well as people from the peripheral Agricultural belt. The wide range of products backed by personalized services promises to bring a novelty in banking for the residents of Vasai”

The Vasai branch will focus on selling both Insurance and Mutual Funds products to customers in addition to providing an array of business banking benefits to the SME segments while offering market competitive Retail Loan products. Further, DCB proposes to launch its Microfinance initiative in Mumbai through the Vasai branch shortly. In keeping with all branches, the Vasai branch has also been designed in a way as to service its clientele in a professional and convenient manner, ensuring that they ‘Feel the Difference’.

DCB had recently received an RBI clearance to open 8 new branches across the country; giving it a chance to aggressively expand into new regions, and also give its additional markets an additional thrust. The Bank inaugurated 3 new branches in Delhi/NCR earlier this month and a new branch in Kolkata prior to that. With the inauguration of the Vasai branch, DCB now boasts of 75 successfully running branches strategically spread across the country.

Mr. Praveen Kutty, Head, CBG, said, “We are a customer-oriented bank and setting up of new branches will certainly prove advantageous to our customers who can avail from the vast range of products and services offered by DCB.”

The Bank’s centralised database enables customers to operate their accounts from anywhere in the country. The Bank’s website www.dcbl.com offers comprehensive details about its various schemes.